Balance Sheet

The Balance Sheet shows your financial position at a point in time: what the business owns, what it owes, and what remains for its owners. It follows the accounting equation — Assets = Liabilities + Equity — with Total Assets on one side and Total Liabilities & Equity on the other.

Every figure is calculated fresh each time you generate the report, directly from posted accounting entries in the General Ledger. The statement holds no balances of its own, and nothing on this screen can be typed over, adjusted, or overridden.

Unlike the Profit & Loss Statement, which measures activity across a period, the Balance Sheet is a snapshot. The header reflects this, showing either a date range or a single “As At” date depending on how you set the period.

Consistency with your other statements

The current period’s Net Profit or Net Loss is calculated using the same engine as the Profit & Loss Statement and carried into Retained Earnings, with a matching tax provision raised in Current Liabilities. Your Cash & Bank balances here are the reference point that the Cash Flow Statement’s closing cash position reconciles to. All three statements read the same posted entries through the same Chart of Accounts, so they stay in step.

What you can use it for

• Reviewing financial position at a month, quarter, or year end
• Consolidating position across business entities within a group company
• Assessing net worth, liquidity, and the balance between debt and equity
• Investigating any figure back to the individual journal entries behind it
• Producing period-end reporting packs in PDF, Excel, or Google Sheets

Generating a report

Opening the screen

Go to Financial Management › Balance Sheet in the sidebar.

The screen opens with the filter bar at the top and a placeholder statement below. Nothing is calculated until you click Generate. A Back button returns you to the Financials landing page.

Choosing your filters

Group Company and Business Entity

Select a Group Company, a Business Entity, or both.

Choosing a Group Company on its own consolidates all business entities beneath it. Once selected, the Business Entity dropdown lists only the entities mapped to that group company and defaults to “All”. Selecting a specific entity restricts the statement to that entity’s postings.

You must select at least a Group Company or a Business Entity. If neither is chosen, the report will not generate and a validation message appears. Where no group company is selected, the header shows “All Group Companies”.

As At Period

Choose from All Periods, This Year, Last Year, This Quarter, This Month, Last Month, or Custom.

“This Year” and “Last Year” follow your financial year, which runs April to March. The remaining options follow standard calendar month and quarter boundaries.

Selecting Custom reveals From Date and As At Date fields. You need to supply at least one of the two. Entries dated on the As At date itself are included.

Basis

Choose Accrual or Cash.

On an Accrual basis, every qualifying posting up to your selected date is recognised. This is the conventional basis for reporting financial position.

On a Cash basis, a posting is only recognised if the journal it belongs to also includes a line posted to a bank or cash account. The Net Profit figure feeding Retained Earnings is restricted the same way. Because this leaves out any transaction that hasn’t touched cash, the resulting statement does not represent your full financial position — an on-screen advisory says so whenever Cash basis is active.

Generating and resetting

Click Generate to build the statement. The system validates your selections, then calculates and renders the statement along with the summary tiles and side panels.

Click Reset to clear all filter selections back to their defaults and return the report area to its placeholder state. Reset only affects your view — it never touches underlying transaction data.

What appears in the statement

Which postings are included

A journal line contributes to this statement only when all of the following are true:

• Its journal status is Posted. Draft, unposted, cancelled, and deleted entries never appear.
• It falls within the Group Company or Business Entity scope you selected.
• Its posting date falls on or before your As At date.
• It is posted to an account categorised as Asset, Liabilities, or Equity.
• Under Cash basis only, its journal also contains at least one bank or cash line.

Lines posted to income and expense accounts belong to the Profit & Loss Statement and are excluded here. A journal containing no asset, liability, or equity line contributes nothing to this statement.

Intercompany journals are included in the asset, liability, and equity figures, with each line attributed to the business entity it was actually posted under. The Net Profit calculation that feeds Retained Earnings excludes them, matching the treatment on the Profit & Loss Statement.

Where the postings come from

Five sources feed this statement, all of them through the General Ledger:

• Manual Journals — entries you post directly
• Asset Management — asset capitalisation and depreciation
• Bank & Cash Management — every posted cash and bank transaction
• Sales — inventory reductions on delivery
• Logistics — inventory increases on goods receipt

The statement reflects the posted values from these sources but performs none of their calculations. Depreciation, for instance, is worked out entirely within Asset Management; the Balance Sheet simply reports the resulting carrying value and has no visibility into asset registers, useful lives, or depreciation methods.

How accounts are classified

Each account’s position in the statement comes from its existing Category and Sub-category in the Chart of Accounts. There is no separate Balance Sheet mapping to maintain, so changing an account’s sub-category changes where it appears here.

Two safeguards override this. Any account with a sub-category of Accounts Receivable — Trade or Non-Trade — is always treated as an asset. Any account with a sub-category of Accounts Payable (Trade or Non-Trade) or GR/IR Clearing is always treated as a liability. This applies regardless of how the account’s category is configured, so receivable and payable balances can never end up on the wrong side of the statement.

Sub-categories with no postings for your selected scope and period are left out rather than shown as empty rows. Where no current asset postings exist at all, an explanatory message appears in place of the section.

Reading the statement

Assets

Fixed Assets

All accounts with a sub-category of Fixed Asset, reflecting the net carrying value of capitalised assets as reduced by Asset Management’s depreciation postings.

Current Assets

Grouped as follows:

• Accounts Receivable — Trade and Non-Trade receivables, shown separately beneath the group heading
• Cash & Cash Equivalents — bank accounts and cash accounts, shown separately
• Inventory — stock balances, increased by goods receipts and reduced by deliveries. Both flows post to the same inventory accounts and are not distinguished on the statement.
• Input Tax / TDS — tax recoverable, arising from tax posted on supplier invoice receipts
• Investments
• Other Current Assets

Total Current Assets = Accounts Receivable + Cash & Cash Equivalents + Inventory + Input Tax/TDS + Investments + Other Current Assets

Total Assets

Total Assets = Fixed Assets + Total Current Assets

Shown as a highlighted grand total immediately below the Assets section.

Liabilities

Current Liabilities

Grouped as follows:

• Accounts Payable — Trade payables (which include GR/IR Clearing balances) and Non-Trade payables, shown separately beneath the group heading
• Short-Term Loans — short-term loans together with other short-term liabilities
• Output Tax — tax payable, arising from tax posted on customer invoices
• Outstanding Expenses
• Current Tax Payable — the tax provision on the current period’s profit, described below

Where a single posted journal both debits a Retained Earnings account and posts to a liability account, that amount is surfaced here as a “Less: [account name]” line tagged RE-LINK. This is a cross-reference for disclosure, showing you that the liability movement is connected to a retained earnings entry. The line only appears when such a journal exists.

Current Tax Payable

Calculated at 17% of Profit Before Tax where that figure is positive, using the same calculation as the Tax line on the Profit & Loss Statement. It appears labelled “Current Tax Payable (17% on PBT)”.

Where Profit Before Tax is zero or negative, no provision is raised and no line is shown.

This is a calculated provision, not a balance drawn from a posted account.

Non-Current Liabilities

Long-term loans together with other long-term liabilities.

Total Liabilities

Total Liabilities = Current Liabilities + Non-Current Liabilities

Shown as a highlighted grand total immediately below the Liabilities section.

Equity

Share Capital

Equity share capital and preference share capital combined.

Reserves

Capital reserves, statutory reserves, and other reserve accounts combined.

Retained Earnings

This section shows its workings rather than a single figure:

• The posted Retained Earnings balance carried in the General Ledger
• The current period’s result, shown as “Add: Net Profit (After Tax)” or “Less: Net Loss (After Tax)” and tagged P&L Transfer. This is calculated using the same income and expense aggregation, Profit Before Tax, and tax logic as the Profit & Loss Statement, so the two statements agree by construction.
• A Balancing Adjustment line tagged AUTO-ADJ, shown only where a residual reconciling amount exists

Total Retained Earnings = posted balance + Net Profit or Net Loss transfer

Total Equity

Total Equity = Share Capital + Reserves + Total Retained Earnings

Total Liabilities & Equity

Total Liabilities & Equity = Total Liabilities + Total Equity

This is the final grand total of the statement, and under double-entry accounting it should equal Total Assets. The system performs this check internally when generating the report. The check isn’t displayed on screen, and an imbalance never blocks generation — the statement is always rendered from the posted figures as they stand.

Summary tiles and side panels

The KPI tiles

Three tiles sit above the statement showing Total Assets, Total Liabilities, and Total Equity for your selected scope, period, and basis. They use the same classification and aggregation logic as the statement body, so all three reconcile to it directly.

The Summary panel

A condensed listing of the whole statement: Fixed Assets, Accounts Receivable, Cash & Bank, Inventory, Input Tax/TDS, Investments, Other Current Assets and Total Assets; Current and Non-Current Liabilities and Total Liabilities; Share Capital, Reserves, Retained Earnings and Total Equity. It closes with Net Worth, which is your Total Equity, and the Net Profit for the period.

The Breakdown panel

Horizontal proportional bars for Fixed Assets, Current Assets, Current Liabilities, Non-Current Liabilities, and Equity, each expressed as a percentage of Total Assets. Only positive values are plotted, making this a quick way to see the shape of your position — how much is tied up in fixed assets, how much of the balance sheet is funded by debt versus equity.

Exploring the detail

Expanding and collapsing sections

Every section, sub-section, and group heading has a chevron you can click to expand or collapse it — Assets, Fixed Assets, Current Assets, Accounts Receivable, Cash & Cash Equivalents, Liabilities, Current and Non-Current Liabilities, Accounts Payable, Equity, and Retained Earnings.

Expanding reveals the underlying account lines with their individual amounts; collapsing hides them while keeping the section total visible. Collapsing a parent section also collapses any expanded sub-sections within it.

This is purely a display control and never affects a calculated figure.

Drilling into an account

Any underlined account line can be clicked to open a journal entry popup. It shows:

• The account number and name
• Its Category and Sub-category
• How many posted journal entries contributed to the figure
• The Net Balance, shown in brackets if negative
• Each contributing journal line: journal number, posting date, description, business entity, and the debit or credit amount

The popup respects your current scope, period, and basis, so it explains the figure as displayed rather than the account’s whole history. Where an account has no entries within your current selection, the popup still shows its identifying details along with a “No journal entries for this account” message.

This is the same popup used on the Profit & Loss Statement, so the drill-down behaves identically across both.

Exporting

Click Export and choose PDF, MS Excel, or Google Sheets.

Export is locked until you have generated a report. Clicking it beforehand produces a “Generate the report first” message. Once a report is on screen, export acts on the statement as rendered, so set up the view you want before exporting.